10 Cost-saving Tips Every Traveller Will Need For Their Year End Holiday

By starting your trip preparation with early planning and bookings, it will allow you more time to do research and compare prices for the best deals and discounts. This enables you to make informed decisions, find cost-effective options, and take advantage of early booking discounts, ultimately saving money by securing the most affordable flights, accommodations, and activities.

Renowned travel portals like Agoda, Booking.com, and Expedia are convenient and great options to compare prices for all your travel needs. Many portals offer package deals, bundling flights and hotels, which can result in cost savings. 

On the other hand, booking directly with airlines, hotels, and rental car companies eliminates middleman fees and commissions associated with travel portals. Booking directly with airlines can also allow you to accrue frequent flyer miles and loyalty points.

When you book directly with airlines, hotels and rental car companies or via some online platforms, they usually provide best-price guarantees in their seasonal offers. These guarantees ensure that you secure the lowest available rate for your accommodation, flight, or service. 

An example is Google Flights, which can help you keep track of any price drops by sending you up-to-date email notifications with price guarantees (depending on your selected country and currency in the Google Flights app.

Cheaper flight tickets, accommodation bookings and even attraction tickets are definitely one of the best parts of travelling during off-peak seasons. Besides, you'll get to immerse yourself better in the local culture without having to tolerate the tourist crowds. So, try going to a popular destination that is well known for its winter activities in the summer or autumn, visit a place that is known for its summer activities during their winter season instead, or head to the tropics during the rainy season, and you’ll be surprised with what you’ll find.

Buses, trams, subways and even bicycles are often affordable, especially in urban areas. For example, in many European cities, you can use public transport to explore at a fraction of the cost of taxis or rental cars. You can even try carpooling and ridesharing through credible services like UberPool, Lyft Line, or carpooling apps, which can significantly cut down transportation expenses and help you avoid the danger and high costs of unmetered taxis.

Bringing just your carry-on backpack to go on your vacation can help you minimise or have no check-in baggage at all. This will shave off some cost from your airline ticket booking as you won’t have to pay for check-in baggage. Moreover, having less backpack or luggages will help you avoid attracting attention from pickpockets and save you the cost of losing your baggage.

Several budget-friendly accommodation options around the world, similar to Airbnb, offer cost-effective and unique lodging experiences as compared to the usual hotels. Besides Airbnb, platforms like Vrbo and HomeAway offer a range of rental properties, from apartments to cottages, often at lower prices than hotels. Camping or renting an RV can also offer budget-friendly accommodation options, especially in national parks and scenic areas.

With the year-end holidays nearing, the probability of terrorism threats may increase, and the likelihood of natural disasters occuring may be higher due to the impending winter storms in regions like North America and East Asia.

You’ll need to be prepared for such situations with travel insurance. You can either buy your travel insurance directly from your preferred travel insurer’s website or tap on travel insurance comparison platforms like MoneySmart’s travel insurance comparison tool which offer promo codes that help you save on your premiums.

Time your visit with local festivals, parades, or cultural events that are often free and offer a taste of local traditions. Besides beaches or parks which offer free access, you can even seek out historic sites and landmarks, some of which are open to the public at no cost.

Besides redeeming your air miles for free or discounted flights, you may want to leverage on the accumulated reward points earned from your credit card usage to help you to shave off some travel expenses for free stays at your preferred hotel or accommodation.

Using a mix of credit cards during your trip can help you get air miles, cashback, free flights, hotel stays, dining rewards, or other benefits. If you can’t decide between cashback or miles, the DBS Vantage VISA Infinite Card allows you to switch your rewards flexibly between up to 2.2 miles per S$1 spent or 2.2% cashback.

As for generous welcome air miles, the UOB PRVI VISA Miles Card offers 50,000 air miles upon sign-up, the most generous in our list to date. Find out on MoneySmart's Best Credit Card for Overseas Spending and compare different credit cards and their perks while you decide on the most cost-effective ones for your trip.